2010 BCSECCOM 173
Cease Trade Order
Solanex Management Inc.
Section 164 of the Securities Act, R.S.B.C. 1996, c. 418
¶ 1 Solanex Management Inc. (Solanex) is an OTC reporting issuer under BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets (BCI 51-509).
¶ 2 Solanex has not filed:
1. interim financial statements for the interim periods ended September 30, 2008,
March 31, 2009, June 30, 2009 and September 30, 2009, as required under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102) and section 5(b) of BCI 51-509,
2. comparative annual financial statements for its financial year ended
December 31, 2009, as required under Part 4 of NI 51-102 and section 5(b) of BCI 51-509,
3. Form 51-102F1 Management's Discussion and Analysis for the periods ended September 30, 2008, December 31, 2009, March 31, 2009, June 30, 2009 and September 30, 2009, as required under Part 5 of NI 51-102 and section 5(b) of BCI 51-509,
4. Form 51-102F2 Annual Information Form for the year ended December 31, 2009, as required under section 5(c) of BCI 51-509,
5. copies of news releases and related material change reports disclosing:
(a) shareholder consent to spin-off Solanex’s environmental remediation subsidiary, SolarNexus, Inc. formerly known as Solanex Recovery, Inc., and the status of that transaction,
(b) the change of management on July 14, 2009 and the related cancellation of agreements, and
(c) material changes in its business and operations,
as required under Part 7 of NI 51-102 and section 5(b) of BCI 51-509,
6. a copy of the following documents that Solanex filed with the United States Securities and Exchange Commission:
(a) Form 10-Q Quarterly Report for the quarter ended September 30, 2008 filed November 14, 2008,
(b) Form 14C Information Revised Preliminary Information Statementfiled February 13, 2009,
(c) Form 10-K Annual Report for the fiscal year ended December 31, 2008 filed March 31, 2009,
(d) Form 10-Q Quarterly Reportfor the quarter ended March 31, 2009 filed
May 15, 2009,
(e) Form 10-Q Quarterly Reportfor the quarter ended June 30, 2009 filed
August 19, 2009,
(f) Form 8-K Current Reportdated July 14, 2009 filed August 24, 2009,
(g) Form 10-Q Quarterly Reportfor the quarter ended September 30, 2009 filed November 16, 2009, and
(h) Form 8-K Current Reportdated February 26, 2010 filed March 1, 2010,
as required under section 11.1 of NI 51-102 and section 5(b) of BCI 51-509,
and
7. Form 51-509F2 Notice of Investor Relations Activities,as required under section 8 of BCI 51-509,
(the required records).
¶ 3 Under section 164(1) of the Act, the Executive Director orders that all trading in the securities of Solanex cease until:
1. it files the required records, completed in accordance with the Act and rules, and
2. the Executive Director makes an order under section 171 of the Act revoking this order.
¶ 4 April 1, 2010
John Porges
Manager
Corporate Finance